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8 September 2022 By Nicola Cairncross Leave a Comment

3 Crucial Business Books To Ensure YOUR Business Survives This Recession

Business owners are more beleaguered than ever.  From lockdowns to double-digit inflation on things you need to buy, to astronomic energy bills, the obstacles to business success are growing larger by the day.

However, by investing in YOURSELF – and we are talking time not money – you can make sure that you make the right decisions while under pressure and give your business the best possible chances of surviving & thriving through the next few years.

Not convinced?  Here are 3 reasons I urge you to think of books as your secret weapon in your fight for business excellence.

  • You can listen as well as read, if that’s your thing.  Not only do most books go to Audible quickly now (including my own ‘The Money Gym‘ but there are browser plugins that will read articles, blog posts and the rapidly becoming essential alternative media ‘real news’ channel Substack out loud to you.  My mate Andy sets his for double time so he gets through longer articles and news even quicker!
  • ‘Leaders Are Readers’ says Tim Sanders, author of ‘Love Is The Killer App’ and when I’m listening to podcasts, what shines through is that the top people are either reading (or listening) to biographies and ‘how to’ books.
  • Suddenly, all that boring dead time while working out, folding the washing, being a taxi for teens or walking the dog is now a portable classroom.

Being very creative and highly visual, I get easily overwhelmed by lots of information.  So I like to divide my activities into three main areas; mindset, marketing & money.  There is a place for business skills too, but they usually fit under one of those three and if you don’t get those three right, you can have as many business skills as you like, but you still won’t succeed.  Unless you are running a company FOR an entrepreneur.


3 Crucial Business Books To Ensure YOUR Business Survives This Recession

So here are my ‘3 Crucial Business Books’, carefully culled from a much longer list so don’t miss these, read / listen as soon as possible.  One book in each of my three main areas.  First up, Mindset!

Mindset

‘Creating A Bug Free Mind‘ by Andy Shaw.

I could have gone with another top favourite here, ‘The 7 Habits Of Highly Effective People’ which was an absolute game-changer for me in my late 30’s but I’m going to assume you have read it already.  No?  Run, don’t walk to get that one.

Can I be blunt? You are never going to succeed in business unless you sort yourself out.  If you have low self-esteem, you don’t believe that you are worthy of success, if you cringe when you talk about money, if you think sales is a dirty word, if you are carrying baggage and resentments, you are on a hiding to nothing.  Might as well shut up shop now.

My really tippy top-notch favourite book on mindset is actually written by a close friend of mine, Andy Shaw.

I’ve watched him go from strength to strength personally, while people from all walks of life in over 150 countries in the world have had their lives changed by this, and its companion book ‘Using A Bug Free Mind’.

Not to mention that I’ve read both books twice now and it’s certainly changed my life – and my business –  immeasurably.

While keeping your head straight is lifelong work, you’ll be wanting to test your big idea now (also known as your Irresistible Offer).

The ONLY way to really test an idea – and get an honest response – is by trying to sell it to someone.  In less than 30 seconds ideally. This can be as simple as explaining it to your Nan, your best mate or someone in your business community.

If they don’t get it immediately you’ve got more work to do on your offer.  But once you’ve cracked it, it’s time to set up a marketing funnel and a sales system, so you never miss a potential sale.


Marketing & Sales

‘Predictable Revenue‘: Turn Your Business Into A Sales Machine With The $100 Million Best Practices Of Salesforce.com’ by Aaron Hall

In order to make it in business, you need to know how both sales & marketing work. While great marketing is popularly thought to make sales redundant, you do need to know how to encourage people to make that buying decision (and how to make it easy for them).

This is the first book I came across that covers the two together, creating a simple, easy-to-follow system to set up both successfully in your business.

What to do, what not to do, what to do if you sell products versus services, how to sell high ticket versus low ticket, how to DIY and how to run a sales team and marketing department – it’s all there.

It’s also surprisingly fun to read, with Aaron sharing lots of anecdotes to illustrate his point.

Business Planning

‘Traction‘ by Gino Wickman

If you’ve ever wondered how to write a short, brilliant, easy-to-follow business plan THEN actually follow it and track your progress regularly, look no further.

I absolutely love this book and use their Meeting Agenda with my Mastermind clients every quarter.

This is written in the format of a self-help book but if you prefer a story, then click through to ‘Traction’ and then look for ‘Get A Grip’ by Gino Wickman – an excellent follow-up to ‘Traction’ driving home the principles in ‘case study’ kind of format.

Again, combining solid practical ‘how to’ with templates and anecdotes from Gino’s own experience of working with many different types of business.


Money

Bonus Book: “Profit First” by Mike Michalowicz

As I can’t leave any list without covering all three of the areas essential for business success, I’ve decided to give you a bonus book – all about how to handle the money in your business!  I’d already been tracking my cashflows weekly – personal and business – and so it was just a matter of absorbing the principles and re-arranging the rows a bit.

Billed as “How to Transform Your Business from a Cash-Eating Monster to a Money-Making Machine” this book is a must for all small business owners.  It is not right for bigger ambition fast-growth companies that don’t care about profit because they are aiming to attract Venture Capital. Unless they want a Plan B, which is not a bad thing in this day and age.

Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability.

Conventional accounting uses the logical (albeit, flawed) formula: Sales – Expenses = Profit. The problem is, businesses are run by humans, and humans aren’t always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales – Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz’s Profit First system, readers will learn that:

· Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances.
· A small, profitable business can be worth much more than a large business surviving on its top line.
· Businesses that attain early and sustained profitability have a better shot at achieving long-term growth.

With dozens of case studies, practical, step-by-step advice, and his signature sense of humour, Michalowicz has the game-changing roadmap for any entrepreneur to make the money they always dreamed of.


Why Did I Put The Books In This Order?

Because there is no point in writing a business plan unless you have your head on straight personally and you have an ‘irresistible offer’.  Find out more about that here.  Similarly, there is no point in learning how to manage the money until you have made some sales.  I have over 52 years experience of business as an entrepreneur (yes, I started at just 8 years old!) and I’ve put this list together in the order I would have liked to get this info.  Now, tell me…

Would You Like My Full List Of The ‘Top 10 Crucial Business Books To Ensure YOUR Business Survives This Recession’?

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Filed Under: Marketing & Sales, Money, Resources, Success Thinking

6 September 2022 By Nicola Cairncross Leave a Comment

He Had Me At “I’ll Share My Templates”

Tomorrow morning at 9am I collect the keys for my new flat. At 9.30 the removal people bring my goods and chattels out of storage.

At 3pm I start a live online workshop with a US based instructor, Justin Brooke, that will last for 5 hours, on and off.

Why have I taken this madness on, you might ask yourself. I certainly have asked myself that question, over the last week.

The flat moving day could not be changed, the workshop is one I really want to attend. It’s live, and while the recordings will be available afterwards, due to editing time they can’t say when. I want the info now.

It was an irresistible offer, you see, made by someone who I know, like and trust. Someone from whom I’ve bought great training before. I had no hesitation.

My lack of hesitation was because it is teaching something that is just right for me in my business, right now, at the right price, in a great live format (you get to ask questions on the spot) and when I signed up the time of day was perfect.

Last month it would not have been an irresistible offer because I was still deliberating about what I wanted to do next. It may not have been right in a month or two either, because I might already have been going down a different road. But when I read the workshop info last Saturday (yes, Justin is a great copywriter but that’s not all of it) I knew it was the right offer for me right now.

So many marketing lessons to learn here.

This last bit alone reinforces the idea that you have to find a fun, effortless way to regularly keep in touch with your potential future customers – Justin wrote a blog post about the workshop on Facebook. He may have sent an email, he could have posted on LinkedIn, he could have Tweeted, or Instagrammed the info, but I saw his FB post.

I’ll recap the marketing lessons at the end of the post for your convenience.

So I’m going to cram it all in somehow. The chattels will arrive, I’ll do the minimum like make my bed, get the kitchen basics out to make tea and coffee and then I’ll sit down at my newly arrived dining room table and give the course 100% of my attention.

“What on earth can you possibly need to learn so urgently, Nicola” one of my business mentors asked me this morning when I told him what I was up to.

“It’s not so much that I don’t know the basic contents of the workshop, although I do expect a couple of good surprises. I’m just really interested to watch how he does it, and get his templates on how to set it all up. He’s also covering how to get new traffic to your offer using paid traffic too so that’s always valuable. I need some new prospects to my mailing list and blogging & podcasting builds relationships, it does not bring hordes of visitors. In fact, I expect that bit to pay for the course!” I replied.

I hate SEO keyword research! Actually, I hate any kind of research as you will learn as I continue the story of my recent travels.

Essentially, by signing up for a good training, that gives you recordings and resources and cuts your research time, you are signing up for a franchise!  You don’t have to figure it all out yourself, step by step, and you get someone to ask your burning questions to.

Are you selling a product or service right now?

If so, what could you take from this story to improve your offer and make it irresistible?

Judith and I talk about how to create a compelling offer (and the sales pages to sell that) in Episode 86 of Own It! The Podcast so you may enjoy that.

Mark Joyner’s book ‘The Irresistible Offer’ was pretty good too.

Marketing Lessons From Justin’s Offer.

1. Keep in regular touch with your potential future customers, find them where they are at different times of day. Share the info about your offer everywhere, more than once. One of my forthcoming workshops will be all about how to do that in just 30 minutes a week 😉

2. By offering something live, with immediate support, but recordings later, Justin nudged me to make a decision. I wanted the info right now, so signed up for the live workshop.  I fully intend to participate fully, even though it’s moving day.

3. He explained the product simply but clearly enough that I grasped that it would solve my immediate problem (what to offer my prospects next) and save me time and work.

4. The price was very reasonable anyway but then he offered a ‘50% quick action takers discount’ which pushed me over.

5. That your offer should include resources that will save your customer time / money. In my case, Justin’s offering templates on the ‘how to’ and he’s also sharing his research on the keywords – a pearl beyond price for me.

I hope you enjoyed this insight on how to sell me stuff well and I look forward to seeing your offers!

Regards

Nicola

Filed Under: Marketing & Sales

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